Deutsche Bank AG Has $10.32 Million Stock Holdings in Nomad Foods Limited $NOMD

Key Points

• Deutsche Bank AG has significantly reduced its stake in Nomad Foods Limited by 52.8%, now holding approximately 0.34% of the company, valued at $10.32 million after selling over 587,810 shares.
• Nomad Foods reported earnings of $0.45 per share for the quarter, exceeding estimates, with revenues reaching $879.27 million, though down by 0.8% year-over-year.
• The company declared a quarterly dividend of $0.17, representing a dividend yield of 4.5%, with a payout ratio of 46.58%.

Deutsche Bank AG lessened its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 52.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 525,354 shares of the company's stock after selling 587,810 shares during the period. Deutsche Bank AG owned 0.34% of Nomad Foods worth $10,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its stake in shares of Nomad Foods by 3.3% during the 4th quarter. Legal & General Group Plc now owns 25,392 shares of the company's stock worth $426,000 after buying an additional 800 shares during the last quarter. Factorial Partners LLC grew its stake in Nomad Foods by 0.5% in the 1st quarter. Factorial Partners LLC now owns 192,100 shares of the company's stock valued at $3,775,000 after buying an additional 1,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Nomad Foods by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,320 shares of the company's stock valued at $1,650,000 after buying an additional 1,270 shares during the last quarter. Penn Capital Management Company LLC grew its stake in Nomad Foods by 10.1% in the 4th quarter. Penn Capital Management Company LLC now owns 30,904 shares of the company's stock valued at $519,000 after buying an additional 2,835 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in Nomad Foods in the 4th quarter valued at about $62,000. 75.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOMD has been the topic of a number of research reports. Barclays decreased their price target on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Wall Street Zen cut Nomad Foods from a "buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Mizuho lowered their price objective on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $20.33.

Nomad Foods Price Performance

NYSE:NOMD traded up $0.36 during trading hours on Tuesday, hitting $15.10. The company's stock had a trading volume of 659,031 shares, compared to its average volume of 828,322. The stock has a fifty day simple moving average of $16.95 and a 200-day simple moving average of $18.18. The company has a market capitalization of $2.32 billion, a P/E ratio of 10.36 and a beta of 0.72. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63. Nomad Foods Limited has a twelve month low of $14.72 and a twelve month high of $20.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $879.27 million for the quarter, compared to analyst estimates of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.Nomad Foods's revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. On average, analysts anticipate that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 4.5%. Nomad Foods's dividend payout ratio (DPR) is 46.58%.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.